Job responsibilities
- Ensuring delivery of risk & compliance services to internal stakeholders in line with the agreed standards.
- Monitoring and reporting on risks and regulatory environment to assist the management in taking appropriate strategic decisions.
- Promote a risk and compliance culture within the company.
- Ensuring compliance with all policies relevant to risk & compliance function.
- Supporting Heads of Departments (HODs) in conducting the required AML/CFT checks and implementation of sanctions.
- Making continuous improvements to risk & compliance processes to enhance the overall efficiency of the department. Contributing to the enhancement of system capabilities.
- Managing the Own Risk and Solvency Assessment (“ORSA”) process in accordance with the regulations.
- Maintaining and testing of the Business Continuity Plan including IT Disaster Recovery.
- Overseeing the implementation of Information Security policy.
- Working with the HODs in conducting assessment, due diligence and review of outsourcing contracts.
- Investigating instances of Whistleblowing/ Complaint.
- Managing all MAS related matters, ensuring timely filing and accuracy of returns and response to queries, consultations, and surveys.
- Managing the governance processes relating to the ERM Committee, Risk Management Committee and Board of Directors.
- Making meaningful contribution to the deliberations in the committee(s) of which one is a member/invitee.
- Ensuring all risk reports are accurate and are produced within the prescribed timeframes.
- Reviewing and updating the risk appetite statement, risk register and all risk policies.
- Ensuring proper documentation and reporting of controls in Internal Control over Financial Reporting (ICOFR).
- Ensuring that the HODs concerned address all the deficiencies identified in the ICP audit.
Job requirements
- At least 15 years of experience in non-life insurance / reinsurance company with at least 8 years in ERM / compliance role.
- Bachelor's degree
- Professional qualification in insurance / risk management
- Ability to understand/interpret accounting standards, regulations and statutes.
